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基于企业层面的面板数据,本文检验了科技型中小企业创新基金对企业全要素生产率的影响。研究发现创新基金存在事前的选择效应和事后对企业全要素生产率的促进效应。创新基金的筛选机制由集中到分权决策的变化提供了自然试验的机会,这一外生的筛选机制的变化对创新基金的效应产生了显著的影响。在经济越不发达的地区,创新基金的作用越显著,说明市场失灵的情况下政府干预的有效性。
Based on panel data at the enterprise level, this paper examines the impact of SME innovation funds on total factor productivity of firms. The research finds that the innovation fund has the ex-ante selection effect and the post-promotion effect on the total factor productivity of the enterprise. The screening mechanism for innovation funds provides a natural opportunity to experiment with changes that focus on the decentralization of decision-making. This change in exogenous screening mechanisms has a significant impact on the effects of innovation funds. In less developed economies, the role of innovation funds is more pronounced, illustrating the effectiveness of government intervention in the event of market failure.